Cerebras Systems, an artificial intelligence chip manufacturer that competes with industry giant Nvidia, is preparing to launch its initial public offering roadshow beginning Monday, according to a source with knowledge of the plans. The company has set an anticipated share price range of $115 to $125 per share.
This represents the second time Cerebras has pursued a public stock offering, following the withdrawal of its previous IPO application in October of last year.
The company has not yet provided a response to requests for comment regarding the upcoming offering.
Cerebras plans to trade on the Nasdaq stock exchange using the ticker symbol “CBRS.” Recent reports indicate the company could potentially raise as much as $4 billion through the offering, with an estimated company valuation reaching approximately $40 billion.
Based in Sunnyvale, California, Cerebras has built its reputation around wafer-scale engine chips specifically engineered to accelerate the training and processing of large artificial intelligence models. This technology puts the company in direct rivalry with Nvidia and other major AI hardware manufacturers.
Financial results show the company’s revenue climbed to $510 million for the year ending December 31, representing a significant increase from the previous year’s $290.3 million. The company also achieved profitability with earnings of $1.38 per share, a dramatic improvement from the $9.90 per share loss recorded the year before.
Major financial institutions Morgan Stanley, Citigroup, Barclays and UBS are serving as the primary underwriters for the stock offering.
